Budget Your MD

Budgeting is difficult in medical school. So much is on our plate and adding another job seems so daunting. I found YNAB to be the most effective and least time consuming budgeting app on the market. Best of all? It’s completely free for students (for 1 year).

Link to discount https://www.youneedabudget.com/college/
How to set it up? https://www.youneedabudget.com/got-five-minutes/

Following medical school, paying down debt becomes a large part of a financial lives. Understanding the various approaches and what may work best for you is a valuable lesson.

Is that something that stresses you out? Check out our Debt Projection Tool to determine how your future may look depending upon your specialty choice and current debt load!

https://www.budgetyourmd.ca/debt-projection

Following medical school, paying down debt becomes a large part of our financial lives. Understanding. The various approaches and what may work best for you is a valuable lesson.

Is debt something that stresses you out? Check out our Debt Projection Tool to determine how your future may look depending on your specialty choice and current debt load.

https://www.budgetyourmd.ca/debt-projection

As a bridge from our previous series on physician compensation, we want to highlight the rural incentives available for physicians in BC. Be on the lookout for upcoming posts!

If you’d rather read about them all at once, check out the new article on our website!

https://www.budgetyourmd.ca/articles/rural-based-incentives

Renting versus buying is a common discussion point amongst medical students. But realistically the current market conditions make it extremely difficult to purchase a home.

The pros and cons listed above are a starting point in your decision making process, but each decision is very personalized to YOUR situation. Don’t do something because you heard it worked for another student. You need to assess your risk tolerance, time frame and available cash before deciding to purchase a home.

What are some questions you have regarding buying a home in medical school? Put it below in the comments ⬇️⬇️

Last but not least, the Blended Payment Model. This option is widely used throughout BC as it provides physicians with lots of flexibility and autonomy in their career.

It basically takes the best features of the different payment models. The only caveat is certain combinations are hard to come by. I’ve mentioned the 3 most common above.

Interested in rural payment programs? Be on the lookout for future posts.

Does your student loans or Line of Credit ever stress you out? Ever wonder how you will be able to pay off debt as a practicing physician?

One of my big goals with Budget Your MD was to produce a quick 20 question form that would generate a projection of when you will eventually be debt free. I noticed how often students become worried or stressed about their current debt levels. The personalized debt projection will take into account your specific spending habits, speciality choice and other important factors to determine when you become debt free.

If you’re interested, hit the link below and you will receive a personalized debt projection in 24-48 hours.

https://www.budgetyourmd.ca/debt-projection

Interest rates are a big topic of conversation these days on Wall Street. As medical students, having an understanding of how these changes effect us is important. But only become more important when we get mortgages and more forms of debt.

If you have additional questions leave them in the comments! Or shoot us a DM!

With the current issues in healthcare funding, salary has become more common as a form of compensation for physicians.

Government funded clinics such as Urgent Primary Care Centres (UPCC) are an example of salary based compensation.

Are you interested in salary contracts? What are your pros and cons? Drop your thoughts in the comments ⬇️

Budget Your MD updated their business hours.